KAIST College of Business: A Contemporary Hub in the Heart of Seoul

KAIST College of Business, situated in Seoul, Republic of Korea, provides a modern educational experience within a vibrant center of Korean commerce and culture. Established in 1971, KAIST College of Business is one of Korea's first and most esteemed business schools. In 2020, it was ranked as the 24th best business school worldwide.

Historical Context and Establishment

The Korea Advanced Institute of Science and Technology (KAIST) was founded in 1971 as the Korea Advanced Institute of Science (KAIS). The establishment of KAIS was supported by a US$6 million loan from the United States Agency for International Development (USAID) and by President Park Chung-Hee. Frederick E. Terman, then vice president of Stanford University, and Dr. KunMo Chung, a professor at the Polytechnic Institute of Brooklyn, designed the institute's academic framework. The primary goals of the institute were to educate advanced scientists and engineers and to develop a robust graduate education system in Korea.

In 1981, the Korean Advanced Institute of Science merged with the Korea Institute of Science and Technology (KIST) to create the Korea Advanced Institute of Science and Technology (KAIST). Physics professor Choochon Lee led the newly formed entity. However, due to differences in research approaches, KIST and KAIST separated in 1989. In the same year, KAIST merged with the Korea Institute of Technology (KIT) and relocated from Seoul to the Daedeok Science Town in Daejeon.

KAIST Development and Expansion

In July 2006, President Suh initiated the KAIST Development Plan, with the aim of elevating KAIST to become one of the world's leading science and technology universities and to rank among the top 10 universities globally by 2011. The ‘KAIST Development Five-Year Plan’ was finalized on February 5, 2007, by the KAIST Steering Committee.

Campuses and Locations

KAIST has two campuses in Daejeon and one in Seoul. The main campus is located in Daedeok Science Town in Daejeon, approximately 150 kilometers south of Seoul. This campus houses most of the lectures, research activities, and student housing, with a total of 29 dormitories. The Seoul campus is home to the College of Business and the Kim Jaechul Graduate School of AI (GSAI). The graduate schools of finance, management, and information & media management are also located in Seoul. Additionally, the Munji campus, formerly the campus of Information and Communications University until its merger with KAIST, is located about 4 kilometers from the main campus and includes two dormitories for undergraduate and graduate students.

Academic Programs and Admissions

Admission to KAIST is based on a comprehensive evaluation of grades, particularly in math and science, recommendation letters, study plans, personal statements, and other relevant data. The university does not rely on standardized tests. KAIST provides full scholarships to all students, including international students, in bachelor's, master's, and doctoral programs. Doctoral students also receive military-exemption benefits from South Korea's compulsory military service.

Undergraduate students can join the school through an “open major system,” allowing them to explore various classes for three terms before selecting a discipline. Undergraduates are also permitted to change their major at any time. KAIST has a robust integrated master's and doctoral program and an early-completion system.

Alumni Network

KAIST has produced 69,388 alumni from 1975 to 2021, including 19,457 bachelor's, 35,513 master's, and 14,418 doctorate degree holders.

Library Resources

The KAIST main library was established in 1971 as KAIS library and underwent a merge and separation process with KIST library. It merged with KIT in March 1990. The main library is a contemporary 5-story building with an annex library.

Campus Life and Traditions

KAIST's Seokrim Taeulje is an annual festival held for three days every spring semester. Organized by the undergraduate student council, the festival includes food and experience booths, club performances, and a song festival.

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Research Institutes

Seven KAIST Institutes (KIs) have been established:

KI for the BioCentury
KI for Information Technology Convergence
KI for the Design of Complex Systems
KI for Entertainment Engineering
KI for the NanoCentury
KI for Eco-Energy
KI for Urban Space and Systems

Each KI operates as an independent research center, receiving support in terms of finance and facilities.

Technological Innovations

Researchers at KAIST have developed the Online Electric Vehicle (OLEV), which uses non-contact magnetic charging to power vehicles through cables underneath the road surface.

Controversies and Challenges

In February 2018, KAIST faced controversy over an AI weapons research project with the Korean arms manufacturer Hanwha, raising concerns about the development of lethal autonomous weapons. In February 2024, a KAIST professor was found guilty of leaking autonomous vehicle technologies to China between 2017 and 2020, resulting in a two-year prison sentence.

Rankings and Recognition

KAIST consistently achieves high rankings in global university assessments:

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In 2020, KAIST College of Business was ranked the 24th best business school in the world.
KAIST is recognized among the top universities in South Korea and Asia by QS World University Rankings, Times Higher Education, and U.S. News & World Report.
KAIST has been recognized as one of the world's most innovative universities by Reuters.

International Collaborations

KAIST has established dual degree programs with international institutions, including:

Technical University of Denmark
Carnegie Mellon University
Georgia Institute of Technology
Technische Universität Berlin

KAIST College of Business in Detail

KAIST College of Business, located in the north-eastern part of Seoul, offers a contemporary experience in the centre of Korean commerce and culture. The university’s main campus is in Daejeon province, whilst the business school itself is located on a separate campus in Seoul.

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